CVS Health Co. (NYSE:CVS) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA reduced its holdings in shares of CVS Health Co. (NYSE:CVS - Free Report) by 46.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 176,549 shares of the pharmacy operator's stock after selling 156,241 shares during the period. Glenmede Trust Co. NA's holdings in CVS Health were worth $11,101,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pzena Investment Management LLC raised its position in CVS Health by 132.9% during the 2nd quarter. Pzena Investment Management LLC now owns 12,936,388 shares of the pharmacy operator's stock valued at $764,023,000 after purchasing an additional 7,382,931 shares in the last quarter. Pathway Financial Advisers LLC raised its position in CVS Health by 5,864.2% during the 3rd quarter. Pathway Financial Advisers LLC now owns 1,730,343 shares of the pharmacy operator's stock valued at $108,804,000 after purchasing an additional 1,701,331 shares in the last quarter. State of Michigan Retirement System raised its position in CVS Health by 402.5% during the 2nd quarter. State of Michigan Retirement System now owns 2,005,677 shares of the pharmacy operator's stock valued at $118,455,000 after purchasing an additional 1,606,500 shares in the last quarter. AQR Capital Management LLC raised its position in CVS Health by 33.5% during the 2nd quarter. AQR Capital Management LLC now owns 5,289,788 shares of the pharmacy operator's stock valued at $310,722,000 after purchasing an additional 1,327,855 shares in the last quarter. Finally, Mizuho Markets Americas LLC raised its position in CVS Health by 1,470.2% during the 3rd quarter. Mizuho Markets Americas LLC now owns 1,396,464 shares of the pharmacy operator's stock valued at $87,810,000 after purchasing an additional 1,307,531 shares in the last quarter. 80.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CVS. UBS Group lifted their target price on CVS Health from $60.00 to $62.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Wells Fargo & Company upgraded CVS Health from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $60.00 to $66.00 in a report on Monday, November 18th. Royal Bank of Canada cut their price target on CVS Health from $68.00 to $58.00 and set an "outperform" rating on the stock in a report on Friday, November 15th. Cantor Fitzgerald reiterated a "neutral" rating and issued a $62.00 price target on shares of CVS Health in a report on Tuesday, October 1st. Finally, Piper Sandler cut their price target on CVS Health from $72.00 to $64.00 and set an "overweight" rating on the stock in a report on Monday, November 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.33.

CVS Health Stock Performance

CVS Health stock traded down $0.11 during trading hours on Friday, hitting $59.85. 3,947,743 shares of the stock traded hands, compared to its average volume of 11,314,412. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.80 and a quick ratio of 0.59. The firm's 50 day moving average price is $59.36 and its 200-day moving average price is $58.75. The stock has a market capitalization of $75.32 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 1.02 and a beta of 0.55. CVS Health Co. has a 1 year low of $52.71 and a 1 year high of $83.25.

CVS Health (NYSE:CVS - Get Free Report) last posted its quarterly earnings results on Wednesday, November 6th. The pharmacy operator reported $1.09 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.01. The business had revenue of $95.43 billion for the quarter, compared to the consensus estimate of $92.72 billion. CVS Health had a return on equity of 10.72% and a net margin of 1.36%. The company's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.21 EPS. As a group, equities analysts expect that CVS Health Co. will post 5.37 EPS for the current fiscal year.

CVS Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Monday, October 21st were issued a $0.665 dividend. The ex-dividend date of this dividend was Monday, October 21st. This represents a $2.66 annualized dividend and a dividend yield of 4.44%. CVS Health's dividend payout ratio (DPR) is presently 67.51%.

CVS Health Company Profile

CVS Health Corporation provides health solutions in the United States. It operates through Health Care Benefits, Health Services, and Pharmacy & Consumer Wellness segments. The Health Care Benefits segment offers traditional, voluntary, and consumer-directed health insurance products and related services.